Financial firm Kovack Advisors Inc. recently disclosed in a Form 13F filing with the SEC that it had increased its stake in International Business Machines Co. by 31.7% in the first quarter. The firm now owns 8,652 shares of the technology company, up from 6,568 shares previously, with a value of $1,652,000 at the end of the quarter. Other institutional investors like Vanguard Group, Morgan Stanley, and Charles Schwab Investment Management also made changes to their IBM holdings in recent months, reflecting a dynamic market landscape.
In terms of analyst ratings, various research firms have weighed in on IBM’s stock, with a range of buy, neutral, and sell recommendations. Stifel Nicolaus reiterated a “buy” rating with a $190.00 price target, while JPMorgan Chase & Co. downgraded their price target to $185.00 with a “neutral” rating. BNP Paribas initiated coverage with an “underperform” rating and a $145.00 price target, and Royal Bank of Canada maintained an “outperform” rating with a $200.00 price target. UBS Group raised their price target to $130.00 with a “sell” rating, contributing to the diverse opinions among analysts. On average, analysts expect IBM’s stock to reach $182.53.
IBM’s stock price has experienced fluctuations recently, opening at $175.73 on Friday and showing a 0.9% decrease. With a market capitalization of $161.43 billion and a price-to-earnings ratio of 19.9, IBM’s shares have a 12-month low of $131.55 and a high of $199.18. The company reported earnings of $1.68 per share for the last quarter, surpassing analyst estimates. Revenue for the quarter was $14.46 billion, slightly lower than expectations. IBM’s dividend payout ratio increased to 75.65%, with a quarterly dividend of $1.67 per share paid on June 10th.
IBM is known for its software, consulting, and infrastructure solutions, offering hybrid cloud and AI platforms for digital and AI transformations. With a focus on integrated services and solutions, IBM aims to support customers in their digital endeavors across various applications and data environments. The company’s strategic positioning in the technology sector has attracted interest from investors and analysts alike, reflecting the evolving landscape of the industry.
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https://www.defenseworld.net/2024/07/05/international-business-machines-co-nyseibm-shares-acquired-by-kovack-advisors-inc.html